Anglo-Arab Insurance Brokers (AAIB) launched the first on-line global travel plan to include war and terrorism cover as standard at the Arab Travel Markets Conference and Exhibition in Dubai on 30th April 2012.
Marketed under the ‘Frontier Travel’ banner, www.frontiertravelinsurance.com offers insurance to travellers in any country in the world except the US and Canada and countries subject to global sanctions.
The new policy insures against accident as a result of war, invasion, civil war, riot, rebellion, insurrection, revolution, overthrow of the legally constituted government, civil commotion, military or usurped power, explosions of war weapons, murder or assault, terrorist activity and kidnap.
It was designed for companies engaged in the energy sector, reconstruction and development, media companies and even governments and their contractors.
It is the first time such a product has been available off-the-peg. War and terrorism can currently be added to conventional travel cover but only after referral back to an underwriter. This typically takes between 24 and 48 hours to arrange and can lead to a substantial increase in premiums.
The Frontier Travel plan can be bought on-line in minutes. It offers savings of up to 30% on current average prices and is available to anyone travelling in emerging and high risk markets, including security contractors and Journalists.
Because it can be bought on-line it is available to travellers from any non-sanctioned country, including those without a developed insurance infrastructure. It can be booked wherever there is internet access -even after a trip has begun.
The new product was developed by AAIB and its London underwriters drawing on AAIB’s deep knowledge of ‘frontier markets’ and the size of its war & terrorism book, which allows it to confidently assess risk and the minimum premiums required.
Benefits include up to $ 500,000 personal accident cover, comprehensive accident cover for riot, war terrorism and kidnap, emergency medical treatment and evacuation. The premium for seven days cover for a clerical worker going to Basra, Iraq with $ 100,000 AD&D and $ 500,000 medevac will be $ 41.43. Similar cover in Baghdad and Kabul is $ 43.24 and $ 23.34 in Kurdistan.
AAIB CEO William Wakeham said the new product is good news for any country deemed dangerous and any company doing business there. “Our Frontier Travel plan will aid the development of conflict and post-conflict countries by making it easier to do business with them.”
He added: “We want to make life as easy as possible for people working in these markets. Frontier Travel cover will allow companies with people travelling at short notice to insure themselves faster, cheaper and more comprehensively than ever before.”
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